How the Proposed Tax Bill Will Affect You, and Why a Tax Loan is Still a Smart Idea

The new tax bill is moving through Congress, and whether it will pass or not remains to be seen. It represents a big overhaul and change in how and how much we pay in taxes. For working Americans in lower income brackets, the changes could be significant. Here are some ways it may impact you, and reasons why you can still rely on a tax loan to get you through difficult financial times.

Low Income Groups Hit Hardest, Rely on Tax Loans to Get By

Unfortunately for so many working Americans, the new tax bill would have a negative impact on those earning less, even those in the middle class. While the bill creates a big tax credit for corporations, it leaves lower income families and individuals in a tough spot. They lose out in this deal. If you are one of those lower income workers, you may get hit hard if this bill passes. When times get difficult, though, you know you can rely on a tax loan to help you get through it. Regardless of what happens with tax laws, you can count on this loan.

Child Tax Credit Goes up, but Mostly for the Wealthy, Use a Tax Loan for Family Expenses

The child tax credit would increase, supposedly putting more money in the hands of families under the new bill. But there is a problem with the increase. It doesn’t increase the refund families get for having a child. Instead it lowers the amount of income you have to be taxed on if you have a child. This will prove to have very limited benefits for lower earners and bigger benefits for those who make more. If you have children, you know how much it costs to raise them. You can still use a tax loan when you have related expenses that you can’t meet.

The Tax Plan Doesn’t Help One-Third of Low Income Families, but Tax Loans Do

As it stands now, many of the proposed benefits for tax payers will not help a large portion of low income families and individuals. This is because one-third of these families do not earn enough to qualify for tax credits. The bill improves some of those tax credits, but a lot of working Americans don’t qualify for them anyway. What will continue to help all working Americans are tax loans. You can continue to benefit from this source of cash.

You Can Always Count on a Tax Loan

Many of these things may change as the bill is amended or if it can’t get passed as is. What you can always rely on though, is the availability of a tax loan. Our lenders will always be here, ready to approve you, regardless of your tax status. If you need the extra cash, even if your credit history isn’t great, these lenders will do their best to get you approved and to make sure you can get by, even if the new tax laws don’t support you and your family. You can apply for a tax loan any day of the year, at any time.

How the Proposed Tax Bill Will Affect You, and Why a Tax Loan is Still a Smart Idea By Eric Knapp - 12/19/17